Middle East & Africa Diabetes Drugs Market Rapidly Growing in Healthcare, Competitor Analysis, Complete Study of Current Trends and Forecast 2019-2024

The Middle East & Africa diabetes drugs market (henceforth, referred to as the market studied) was valued at USD 2793.99 million in 2018, and it is expected to witness a CAGR of 6.48% during the forecast period 2019 - 2024, primarily due to the growing geriatric population. In most countries in the Middle East region, it is estimated that approximately USD 17 billion are spent on diabetes by consumers. The major cause for the growing diabetic population in this region is unhealthy lifestyles and urbanization.Most of the countries in the region has seen tremendous economic and industrial development in recent times, resulting in a shift in social behaviors.

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Scope of the Report
The Middle East & Africa diabetes drugs market is segmented by product type (oral anti-diabetic drugs, insulin, non-insulin injectable drugs, and combination drugs) and geography.

Competitive Landscape
There have been constant innovations driven by manufacturers to compete and struggle in the market studied. Glynase and Diatab, which are considered to be generic medication, had high sales in the Middle East region, but were deemed to fall below the standards of the treatment, on which they were based. Thus, with the notification of the Saudi Food and Drug Authority (SFDA), the decision of withdrawing these drugs was announced by the National Health Regulatory Authority (NHRA). A new study on SGLT2 Class (Jardiance, Farxiga) reflects that the drug helps in treating kidney and cardio vascular diseases.

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Key Market Trends
Around 16 million People are Suffering from Diabetes in the Middle East & Africa Region
- In Middle East & Africa (MEA), 15.51 million people are suffering from diabetes, and this population is expected to increase in the forecast period with a CAGR of 4.46%.
- In the MEA region, in 2018, the obesity rate was high with 42 million people, which was 21% of the total population. Obesity may lead to type-2 diabetes in the future.
- Egypt and Saudi Arabia have the highest diabetic population, with 53.3% and 28.2% market share in the market studied, respectively.
- For most of the population, sedentary lifestyles and endless fast-food options have replaced the traditional ways of work, travel, and cuisine, increasing the chance of getting diseases, such as type-2 diabetes.
- Increasing population and rising per capita income in these countries may result in increasing healthcare expenditure, which may drive the market studied during the forecast period (2019-2024).

Saudi Arabia Holds the Highest Market Share
- Saudi Arabia accounts for the largest market share in the MEA diabetic drugs market, which is close to 25.35% in 2018, and Oman is expected to witness the highest growth rate of 10.45% during the forecast period (2019-2024).
- The increasing sales of diabetic drugs in Saudi Arabia are due to the growing prevalence of diabetes in the country.
- The Middle Eastern countries have high diabetes prevalence, like Saudi Arabia - 24%, Kuwait - 23%, Bahrain - 22%, Qatar - 20%, and UAE - 19%.
- In 2018, insulin accounted for close to 33.37% of market share in the market studied. The insulin segment of the market studied in the MENA region was valued at 932.27 million in 2018, and it is expected to register a CAGR of 4.12% during the forecast period (2019-2024), where Saudi Arabia is expected to occupy 32.33% of the market share.

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